-I want to offer 60% of his list price because of condition but I was shocked when I saw how high his rents were.

That is dishonest and shocked someone is recommending that.

As an example, we just closed on a house that was listed at 29K, is worth 80K and we offered 15.5K and they took it (even our agent was shocked).

I was shocked and not prepared.

Tenants can turn bad, vacate, stop paying rent, etc. and it's a rude shock to find these things out after closing and you take possession.Got nothing on the seller financing, sorry!

I had a similar situation dad died Jan 2012 and between changing names on Property titles, getting properties property set up with insurance name changes,and other things I was shocked as to how much needed to be done besides paying all the expenses for funeral and transferring titles on cars and getting life insurance figured out..

@Kenneth T I am in shock right now how the "government" can tell a private homeowner what and what they can do with monies they receive!!!!!

I said no drive your car.. they then walk me down to the basement there is an old 50's beetle all covered up and they inform they have not driven it in 10 plus years plus they don't thing they can drive anyway.... shocking for a kid from the burbs of Cupertino were we had no bus lines....

I was sort of shocked about how little I truly knew about money before reading it.

SHOCKED by this "bad foundation" knowledge, I sought a foundation expert myself to come tell me what is wrong, and he disagreed ENTIRELY with both housing inspectors.